She grows her firm by targeting clients who share her life experiences.
Operations isn’t just a bunch of back-office tasks
Some advisors may see it that way, but Heather feels that the discussion needs to shift to the value and return on investment (ROI) operational focus brings to the table. Here are her tips on ways to make your firm more operations-focused:
Hire someone passionate: Just as financial advisors have in-depth knowledge in their field, operations professionals do, too. Consider bringing one on board to help expand your capabilities.
Don’t be afraid to outsource: This can be a cost-efficient way to help you access professionals that are available when you need them.
Lean on technology to help ease the load: I’ve found that using the right advisor software has been transformational for us. iRebal®, for example, allows us to rebalance in a day instead of once a quarter.*
- *Advisors using iRebal set account-level preferences based on client needs and establish asset allocation parameters based on selected investment models.
- Tax or investment efficiencies achieved or losses realized in accounts rebalanced by iRebal are the result of such preference and parameter settings.
Operational efficiency in numbers
- 1. FA Insight, Growth by Design, 2016.
- 2. Advisor Metrics, Cerulli Quantitative Update, 2012.
- 3. The 2015 FA Insight Study of Advisory Firms: People and Pay.
- FA Insight is a product of TD Ameritrade Institutional, Division of TD Ameritrade Inc. FA Insight is a trademark owned by TD Ameritrade IP Company, Inc.
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